Are you or do you know a student? Remember: the T2202A, the credits received from the eligible tuition and education amounts, last indefinitely. They can always be carried forward to the next tax term if you don’t feel the need to use them.
Have questions? Send us an email at info@booksinline.ca!
If you plan on selling an asset at a profit, consider spreading that sale out over several years. You can spread a capital gains tax up to 5 years, as long as your payment plan persists for 5 years.
Have questions? Send us an email at info@booksinline.ca!
Did you know?
If you ever receive a bonus, you can defer it up to 3 years. This may make sense for you, if you expect the bonus will put you in a higher tax bracket for the year you receive it.
Have questions? Send us an email at info@booksinline.ca!
